The Tribune

By IAN FERGUSON OUR final chapter in this leadership series focuses the attention of the leader on his behaviour during turbulent times. Leaders face many challenges. As you read this article, I am certain your mind will circle the many institutional, financial and employee-related issues you navigate on a daily basis. Since leaders are ultimately responsible, and are held accountable, for results, these challenges cannot be abandoned or delegated to someone else. The effective leader must face the difficulties, and strategically maneuver the organisation towards greater economic viability. High impact leaders need to remain vigilant during bad times. They must not allow disillusionment and despair to set in. Rather, they should view these times as an opportunity to repair, adjust and amend the organisation. Optimism is always best in challenging times. It is the positive mindset that allows the leader to be more imaginative, and thus capable of climbing out of the trenches of decline. The Chamber Voice says that every day in business will not be smooth sailing. This means that when the engine that seemed so reliable for the last 10 years decides to fail and you're in the middle of the ocean, you will have to rely on the provisions you made during the good times and become very creative in making your way back to shore. Recessionary times will come, difficult employees will challenge you, bad business decisions will be made, natural disasters will occur, other external forces over which you have no control will adversely affect your business. In the midst of all this, your role as the leader is to mitigate and minimise the damaging effects on your company. Here are some important tips for leaders who may be experiencing challenges: 1. Reallocate your time to yield greater results. This may mean reviewing the time allocations of your team and eliminating any overlaps you discover. It will also involve some degree of streamlining how much energy you place on low income-yielding products and services. Time management is a crucial survival skill for the leader in difficult times. 2. Establish measures for various projects and existing programs. You cannot manage what you cannot measure. Your business cannot operate by happenstance during bad times. Everything has to be tracked and streamlined towards some ambitious targets set. 3. Place special emphasis on sales and marketing. Sales is the conduit to the eyes and ears of the customer, and the place where rapid decision-making can keep an organisation ahead of a downward curve. 4. Leverage your 'A Players'. There are some high producers on your team who need to be really motivated to produce during difficult times. Providing extra incentive for these persons might be a good option, as they will help drag the company out of dangerous territory. Start identifying your 'Go To' employees. 5. Implement an Improvement Team. There are individuals on the team who are great at brainstorming new and fresh ideas. Engage these persons in accessing the challenges and providing feasible solutions. 6. Intensify your company communication systems. The strategy, plans, objectives and goals must be communicated almost daily in various ways to team members during difficult times. Leaders must be tactful and creative in communicating the path to being more productive. 7. Listen more to the voice of the customer. Performing basic customer research during times of decline is vitally important to the turnaround. The customer will provide the clearest direction your products and services should take. 8. Shed the unnecessary pounds. The leader must find the fortitude to get rid of waste. This may mean programs and incentives that have not yielded results, or employees who have hurt the reputation and success of the organisation. This is not to be confused with training and staff motivational programs that are crucial during this time as necessary affirmation for employees. 9. Make well thought out/collaborative decisions quickly. The greatest danger for an organisation standing in the troughs of difficult times is inaction. Tough decisions must be made, swiftly and intelligently. Make a decision today to attend a special SME Empowerment Workshop on March 14, from 8:30am to 1pm, at the British Colonial Hilton. This workshop is sponsored by the Bahamas Chamber of Commerce and Employers Confederation, the Bahamas Institute of Chartered Accountants and the Association of Certified Chartered Accountants. This opportunity allows you to network with over 100 local business owners, hear great success testimonials, receive information from the experts on access to finance and practical tips for operating with a higher degree of business and service excellence. Register today with Latoya Swain at lswain@thebahamaschamber.com or call 322.2145. NB: About the author Ian R. Ferguson has a Master's Degree in Education from the University of Miami. During the course of his nearly 20 years in education, talent management and human resources, he has served both the public and private sector. He currently serves as manager of the Chamber Institute.